940 Pennsylvania Compensation Rating Bureau; Coal Mine Compensation Rating Bureau; workers' compensation loss based assessments filings

Pennsylvania Compensation Rating Bureau; Coal Mine Compensation Rating Bureau; Workers' Compensation Loss Based Assessments Filings

[28 Pa.B. 2742]

   On June 1, 1998, the Insurance Department (Department) received from the Pennsylvania Compensation Rating Bureau (PCRB) a filing which proposes to amend Workers' Compensation Insurance premium computation to recognize the loss based assessments provisions of Section 2218 of House Bill 1027, Act 57 of 1997, for a proposed effective date of July 1, 1998. The loss based assessments provisions of this Legislation amend the maintenance conditions of the Subsequent Injury Fund, the Workmen's Compensation Supersedeas Fund and the Workmen's Compensation Administration Fund. The PCRB's proposal is to define workers' compensation premium to be 96.82% of the dollar value obtained by applying carrier rating values and other rating plans. The remaining 3.18% of the dollar value shall be defined to be assessments for the maintenance of the above referenced loss based assessments.

   Also, on June 1, 1998, the Department received from the Coal Mine Compensation Rating Bureau (CMCRB) a filing which, similar to the PCRB's filing, is responding to House Bill 1027 requirements. The CMCRB defines workers compensation premium to be 96.81% of the dollar value obtained by applying carrier rating values and other rating plans. The remaining 3.19% of the dollar value shall be defined to be assessments for the maintenance of the above referenced loss based assessments.

   Copies of these filings are available for public inspection during normal working hours, by appointment, at the Department's offices in Harrisburg, Philadelphia, Pittsburgh and Erie.

   Interested parties are invited to submit written comments, suggestions or objections to Chuck Romberger, CPCU, Insurance Department, Office of Rate and Policy Regulation, Bureau of Property and Casualty Insurance, Actuarial Review Division, 1311 Strawberry Square, Harrisburg, PA 17120, within 5 days of publication of this notice in the Pennsylvania Bulletin.

M. DIANE KOKEN,   
Insurance Commissioner

[Pa.B. Doc. No. 98-940. Filed for public inspection June 12, 1998, 9:00 a.m.]